Asian markets are continuing downward today as investors remain bearish on the Chinese economy. Recent worse than expected export and industrial production data from the China has revived fears of a weakening situation in Asia, causing the yen to rise as investors use it as a safe haven asset. The increase in the value of the yen has hurt the income of Japanese companies, pushing Japanese equities down together with worse than expected Japanese industrial production data. Lastly, mining companies have been hit due to reduced demand from China, hurting Australian equities as well. The Nikkei closed down 3.30%, the Hang Seng closed down 1.00%, and the ASX 200 closed down 1.54%.
European markets have also headed downward due to tension between Russia and the EU over the situation in the Crimea. Yesterday, Russia mobilized troops near the Ukrainian border, escalating the situation and causing investors to panic during the European session today. Until this issue gets resolved, traders are going to be very wary of European assets. Not surprisingly, the Stoxx 50 closed down 1.05%, the FTSE closed down 0.53%, and the DAX closed down 0.25%.
American markets are also declining slightly in light of situation in Europe. Furthermore investors were also unimpressed with worse than expected consumer confidence data, which contrasts with recent optimistic data about the US economy. Consequently, we could see US indices decline further as traders process the effects of bad data and political tension in the Ukraine. The Dow is currently down 0.15%, the S&P is down 0.21%, and the Nasdaq is down 0.38%.
March 14, 2014 – Indices News
Asian markets are continuing downward today as investors remain bearish on the Chinese economy. Recent worse than expected export and industrial production data from the China has revived fears of a weakening situation in Asia, causing the yen to rise as investors use it as a safe haven asset. The increase in the value of the yen has hurt the income of Japanese companies, pushing Japanese equities down together with worse than expected Japanese industrial production data. Lastly, mining companies have been hit due to reduced demand from China, hurting Australian equities as well. The Nikkei closed down 3.30%, the Hang Seng closed down 1.00%, and the ASX 200 closed down 1.54%.
European markets have also headed downward due to tension between Russia and the EU over the situation in the Crimea. Yesterday, Russia mobilized troops near the Ukrainian border, escalating the situation and causing investors to panic during the European session today. Until this issue gets resolved, traders are going to be very wary of European assets. Not surprisingly, the Stoxx 50 closed down 1.05%, the FTSE closed down 0.53%, and the DAX closed down 0.25%.
American markets are also declining slightly in light of situation in Europe. Furthermore investors were also unimpressed with worse than expected consumer confidence data, which contrasts with recent optimistic data about the US economy. Consequently, we could see US indices decline further as traders process the effects of bad data and political tension in the Ukraine. The Dow is currently down 0.15%, the S&P is down 0.21%, and the Nasdaq is down 0.38%.
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